New resale flat listing service by HDB aims to provide convenience and be a ‘trusted’ marketplace

New resale flat listing service by HDB aims to provide convenience and be a 'trusted' marketplace

On May 8, officials said they were investigating the sale ads for two HDB cottages for being “misleading” and “unrealistic” in their asking prices of S$ 2 million.

Asked if its new list company can help to hinder such incidents, HDB said:” The government does not accept attitude, whether by sellers or their property agents, that seek to destroy the market or buff consumer sentiment”.

It added that it “reserves the right to delete advertisements from its website that have inflated prices or presented false knowledge.” As needed, it may also ask the dealers or their real estate representatives for clarification.

A spokesperson for the Council of Estate Agencies told CNA that if house agents suspect professional misconduct, HDB will cooperate with them to check and take appropriate enforcement action.

The expert noted that HDB’s “willing buyer-willing owner” approach to resale flat listing aims to promote greater transparency and establish a more dependable and trustworthy marketplace for listing, which will in turn help to stabilize and sustain the long-term property market.

FREE LISTING SERVICE AVAILABLE RIGHT NOW

On May 13, available level sellers and their nominated agents will begin the HDB’s resale list service.

HDB stated that it will gradually send out email requests to customers with legitimate sales intentions.

Retailers and their estate agents should be familiar with the new list service because of this first access. During the soft launch period, there wo n’t be any transactions.

The official release may be held “later this month, on a date to remain announced”, HDB said.

Would-be home buyers and their appointed estate agents will be able to get the HDB Flat Portal listings following the official release. An message invitation will be sent to customers who have a current HFE text.

The HDB Flat Portal’s most recent addition, the selling listing service, may be” for the time being free of charge,” according to HDB.